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The slowdown in growth of household spending in Ireland continued in the final month of 2016, according to the latest data from Visa's Irish Consumer Spending Index, which measures expenditure across all payment types (cash, cheques and electronic payments.)
Whether online or in-store, buying gifts or enjoying Christmas revelry, shoppers are foregoing cash, opting for the speed and convenience of contactless cards and new payment methods.
The increase in the contactless card payment limit in October 2015 has had a transformative effect on consumer spending habits with Visa debit cards in Ireland, according to new analysis from Visa Europe.
• Contactless growth accelerates shift from cash to electronic payments with one million contactless transactions made in Ireland every week • Online shopping continues to soar with eCommerce accounting for 21% of all spending with a Visa card • More than €1 in every €3 of Irish consumer spending is now on a Visa card – Debit, Credit or Prepaid
Visa Europe, the payments technology company, has revealed that Irish consumers are now making over two million contactless transactions with Visa Debit cards every month.
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